Re: Stadium Developments : Tue Dec 20, 2011 5:44 pm  

Gruntfuttock wrote:

The Money is owed to Directors NOT the banks , part of the loan is to buy the 999year lease on the land , the Stadium IS wholely owned by Saints, , not a stadium company or the local council or any other entity who can dictate the time of use of the Stadium or take shares in any profits the Stadium generates , I think at the time it was announced a figure of 10 years was mentioned to repay the loan part.

So if what you say is correct Saints Directors own the stadium rather than say a trust. So what happens if they leave?

Saints (the fans & club) do not own the stadium, a consortium of directors do. It's a pretty big distinction is it not.

I reckon you are being very naive.

Can you point me somewhere that shows how the stadium was funded please before I make my mind up - thanks.

Re: Stadium Developments : Tue Dec 20, 2011 5:50 pm  

vastman wrote:

So if what you say is correct Saints Directors own the stadium rather than say a trust. So what happens if they leave?

Saints (the fans & club) do not own the stadium, a consortium of directors do. It's a pretty big distinction is it not.

I reckon you are being very naive.

Can you point me somewhere that shows how the stadium was funded please before I make my mind up - thanks.

who do you think normally owns any club if not a group of directors? think its a pretty silly distinction to be quibbling over TBH.

Re: Stadium Developments : Tue Dec 20, 2011 5:58 pm  

vastman wrote:

So if what you say is correct Saints Directors own the stadium rather than say a trust. So what happens if they leave?

Well they either sort it out when they leave the club or they end up with a stadium worth nothing as they can hardly use it for anything else, I mean how much would they get for the office space and that is one hell of a smoking hut with a nice grass area and thousands of seats
Seems sensible to me

vastman wrote:

I reckon you are being very naive.

They are not the only ones.

And a Wakey fan having a go at another club for building a stadium really does boggle the mind!

Re: Stadium Developments : Tue Dec 20, 2011 10:31 pm  

Directors who are OWED money (in this case a share release) are not THE CLUB, otherwise the money would not be owed would it! The simple fact is, Saint Helens RLFC do not own the ground outright, they are paying off a substantial managed debt. That it isn't to a bank is neither here nor there, money has still been borrowed to pay for the stadium (along with sale of KR land, substantial grants etc)

That any Saints fans think they own the stadium is niave at best, your operational profit (one would think you should have no problem there)will be divided into paying off a part of the debt & the interest plus an agreed amount with the directors for their dividend. The rest for reinvestment/contingancy etc.
IF you owned the stadium outright and all the assets as some claim ALL profit after tax would go back to the club, that clearly isn't the case.

For what it's worth I think you got a lot of stadium for your money. Obviously there was never going to be enough money in the pot to get you a top level stadium but the capacity is spot on and it has that traditional look about it from inside.
I'll likely make the trip next year for a look and hopefully a win

Re: Stadium Developments : Tue Dec 20, 2011 10:37 pm  

I've done a little bit of digging and shockingly, 75% of Saint's ground is indirectly owned by SPECTRE. To release the stadium from their evil grip they are demanding ...........................................




































































One million pounds !!!!!!!!!!!!!!!!!!!!!!!!!!!

Mwaaaahaaaaaaahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

Re: Stadium Developments : Wed Dec 21, 2011 12:05 am  

If its as described then of course Saints own it. Just because they've borrowed money to pay for it doesn't mean it's not theirs, in the same way when you get a mortgage the house is still owned by you and not the bank.

Re: Stadium Developments : Wed Dec 21, 2011 1:28 am  

No they don't.
You don't own a house that you 'buy' (with someone elses money) until your debt to the lender is paid off. A mortgage is another form of managed debt. You don't own outright anything until that debt is paid off no matter what it is. It can't be any simpler.

Re: Stadium Developments : Wed Dec 21, 2011 6:39 am  

It's all in the terminology.

I am a homeowner. That is what it is classed as, even though I have a mortgage.

If I buy a car with a car loan, I am the owner of that car, not Dial-a-loan.com

If I pay for a holiday on the tick it's me who's flown out, got sunburnt and had it large in the clubs of Ibiza. It was my holiday, I owned it.

Re: Stadium Developments : Wed Dec 21, 2011 12:22 pm  

littlerich wrote:

It's all in the terminology.

I am a homeowner. That is what it is classed as, even though I have a mortgage.

If I buy a car with a car loan, I am the owner of that car, not Dial-a-loan.com

If I pay for a holiday on the tick it's me who's flown out, got sunburnt and had it large in the clubs of Ibiza. It was my holiday, I owned it.

It would depend on type of loan -- if its HP,you are not the owner,but the keeper.

Re: Stadium Developments : Wed Dec 21, 2011 1:41 pm  

Him wrote:

If its as described then of course Saints own it. Just because they've borrowed money to pay for it doesn't mean it's not theirs, in the same way when you get a mortgage the house is still owned by you and not the bank.

No you do not own the house until you pay the last installment - that is wht the Bank/BS have the deeds to your house.

What Saints fans are doing is confusing the club/heritage/fan base with the Ltd company that owns and runs it - they are simply not the same.

Now I have no reason to think that the Saints Directors are not honourable men so any scenario where they would somehow screw the club are remote. However to suggest that there is something special about Saints situation compared to other is a complete load rubbish. Until the debt is payed there is always a risk.